M2P Fintech launches a first-of-its-kind Core Lending Suite
M2P Fintech, Asia’s largest API infrastructure company announced the debut of its ‘Core Lending Suite’ (CLS) that leverages its RegTech, LendTech, and BankTech capabilities. M2P’s CLS is modeled around digital first lending, a first-of-its-kind integrated suite of capabilities that empowers lenders to rapidly customize, develop, market test, iterate, and roll out lending products.
CLS is designed for developing innovative products, testing new lending models, leveraging different consumption layers, and go-to-market strategies for lending institutions, making it a first-of-its-kind for the lending industry. The platform covers different facets of lending including Onboarding (Digital identity & KYC), Loan management (Loan Origination, Loan Management) Debt management (Collections), Go to Market strategies (Partnerships & Open Credit Enablement Network), Data Services (Account Aggregation), Operations (FinOps, ReCon), and access to consumption platforms (Buy Now Pay Later, Cards, UPI, and Fleet) that form part of CLS’s end-to-end offering.
Madhusudanan R, Co-founder, M2P fintech commented, “Our acquisitions and investments in Origa, Wizi, BSG IT soft, FinFlux, Syntizen, and Finvu coupled with our existing capabilities have culminated into a holistic suite for the lending value chain. With M2P’s Core Lending Suite we aim to democratize lending and power the next generation of innovative products. At M2P, we’ve been at the forefront of innovation, with the recent digital lending guidelines from RBI, making it opportune to look at lending capabilities holistically across onboarding to consumption of credit to balance sheet play for lenders. Given the importance of NBFCs and other financial institutions to economic growth, it is imperative to provide lenders with the power of products, tools, and platforms for enhanced customer experience and effective loan management.”
According to research by the Fintech Association for Consumer Empowerment (FACE), fintech lending companies increased disbursements in the fiscal year 2021-22, delivering a total of 2.66 crore loans worth INR 18,000 crores. With the recent guidelines for digital lending released by RBI, the sector is gearing up for a transformation. Many legacy, and new-age financial services companies may choose to offer services in one or more lending platform components as the overall addressable lending market in India is approximately INR 150 lakh crores. Digitization across traditional customer journeys and increasing disbursement efficiencies will be the key focus areas for the lending industry moving forward.
Abhishek Arun, President, M2P Fintech, commented “With M2P Core Lending Suite any lending institution can level up owing to it being a single solution from onboarding to collections to ‘Go to Market’ strategies. Enterprises will have the option to go with the entire suite or choose from an array of microservices with the platform. This allows lenders to expand their horizons by launching new products and businesses by customizing them as per their customers’ requirements. This means one could seamlessly build or remove products, solutions, or services on top of their existing systems, depending on the shift in consumer behavior without affecting business continuity.”
With a rapidly growing base of 15 million+ borrowers across 85 NBFCs and over $10 billion in disbursements, M2P with its global presence aims to be the one-stop shop for anyone to build a lending business.